Suominen Announces Preliminary Results

Suominen´s net sales for 2010 were $234 million, out of which the net sales of flexibles business area was $89 million and the net sales of wiping business area was $146 million.

02.28.11

Operating loss before impairment losses on goodwill and non-recurring costs was $5 million and operating profit in both business areas was negative. Furthermore, impairment charges against goodwill, $6 million, and non-recurring costs related to rationalization of business operations, $2.9 million, are recorded in the operating result of the group. Profit after financial items was -$21 million. The figures are preliminary.

In connection with previous interim reports, net sales for 2010 was estimated to be lower than in 2009. Due to decrease in sales volumes, decline of margins and possible non-recurring costs, the operating profit for 2010 was expected to be negative.